One in four new UK homebuyers under 25 rely on ‘bank of mum and dad’ – study

People look at residential properties displayed for sale in the window of an estate agents in London. Photograph: Isabel Infantes/AFP/Getty Images

The massive scale of parental support for young people seeking to buy their first property has been revealed in a UK study showing one in four new homebuyers under 25 rely on the “bank of mum and dad”.

A blogpost by a Bank of England economist found that even before the sharp increase in house prices during the Covid-19 pandemic, the children of better-off parents were able to become owner occupiers four years earlier than those without parental support.